FAR Chart

There is absolutely no pulse in the FAR chart. The only glimmer of hope is that FAR has previously broken out of a descending triangle on news back in Feb 2016 and just possibly is coiling awaiting news in the not too distant future to do the same. On the downside, triangles normally break in direction of the prior trend. One glimmer of hope is that the May low at 7.6c and subsequent rally could be viewed as a trend break and the price movement since has been a side ways / double bottom occurring. If price trades below 7.4c then a target of 6.4c is possible.

On the macro front we have the ASX and S&P 500 both close to putting in bottoms probably over the next few weeks (ASX may have already bottomed) and we also have oil in a descending triangle with a base at $46. A break below $46 for oil ushers in potential targets in the low $40. A rise above $50 (CL Futures) would negate the triangle pattern.

So what we want is the index bottom confirmation, oil to rally over $50 and FAR to release there RISC update soon after all of this occurring. What we get, Who Knows!